Texas Tax Code

§ 313.003 — PURPOSES

TX § 313.003Title 3. LOCAL TAXATION · Part B. SPECIAL PROPERTY TAX PROVISIONS · Ch. 313. TEXAS ECONOMIC DEVELOPMENT ACT · Art. A. GENERAL PROVISIONS

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The purposes of this chapter are to:

(1)encourage large-scale capital investments in this state;

(2)create new, high-paying jobs in this state;

(3)attract to this state large-scale businesses that are exploring opportunities to locate in other states or other countries;

(4)enable state and local government officials and economic development professionals to compete with other states by authorizing economic development incentives that are comparable to incentives being offered to prospective employers by other states and to provide state and local officials with an effective means to attract large-scale investment;

(5)strengthen and improve the overall performance of the economy of this state;

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 1304 (H.B. 3390), Sec. 1, eff. January 1, 2014.